Irvine-based chipmaker Broadcom Corp. could be nearing a settlement of a patent infringement dispute with San Jose-based Sirf Technology Holdings Inc.
Shares of Sirf were up more than 10% in midday New York trading on rumors the company could be near a deal with Broadcom.
Sirf has a market value of about $150 million. Shares of Broadcom were flat on a market value of $11 billion.
Last month, an International Trade Commission judge ruled that Sirf infringed on six of Broadcom’s patents for global positioning in cell phones. A final decision is set to be made by a six-person panel before the end of the year.
The ruling was seen as a devastating blow to Sirf, which has seen executive changes and a big drop in its stock price in the past year.
A deal likely would see Sirf pay royalties to Broadcom.
